Microsoft analyst meeting starts, no CEO update today

"There will be no update on [the CEO search] today," says new CFO Amy Hood as she kicks off Microsoft's (MSFT+1%) annual analyst meeting. That should please bookies taking odds on who the software giant's next leader will be.

Hood is, however, expected to detail the changes being made to Microsoft's financial reporting in the wake of its big reorg.

Thus far, Microsoft has broken out revenue and op. income figures for 5 major divisions: Windows, Business (Office), Server & Tools, Online Services, and Entertainment & Devices. But the reorg does away with those divisions in favor of splitting Microsoft along functional lines (engineering, finance, HR, etc.).

That, in turn, has stoked concerns Microsoft will try to hide losses racked up by certain businesses, particularly those in Online Services.